I know which I would prefer given the choice between at the moment:
Fiat money is money that does not have intrinsic value and does not represent an asset in a vault somewhere.
or as you say,
Gold is not a currency, it's an asset, but not a very good one in the long term as the many charts I've posted here will prove.
An asset, that is limited in supply and in demand it meets the attributes of money,
The characteristics of money are durability, portability, divisibility, uniformity, limited supply, and acceptability.
The last attribute, acceptability also encompasses trust and confidence something that is deminishing with the US dollar.
Gold is not the best form of money, except for all the others.
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